Are you going through a divorce? Might there be alimony as part of your settlement? Will it not be settled before 12/31/2018? Trump's tax reform plan will eliminate the [...]
THESE PROPOSED TAX CHANGES ARE THE MOST SIGNIFICANT I HAVE SEEN IN MY CAREER. My team is actively monitoring this situation and how it may impact your family and [...]
The current law dictates that taxpayers who do not have (MEC) Minimum Essential (Health) Coverage, may have to pay a penalty when filing their tax returns. MEC is any [...]
Do you know that if you sell your home and make a profit, the gain may not be taxable? That’s just one key tax rule that you should know. [...]
The last day to file your 2016 tax returns on time is October 15! If you have a history of tax filing procrastination and have not filed your 2016 [...]
President Trump's election has caused an upheaval on so many levels, and the companies who get their managers and line employees educated will have the edge over their competition. [...]
Puerto Rico — Victims of Hurricane Irma that took place beginning on Sept. 5, 2017 in parts of the Commonwealth of Puerto Rico may qualify for tax relief from [...]
Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the [...]
Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person’s [...]
Chris Whalen, CPA Note: Don't roll the dice with your taxes! The best bet you can make is to choose the best CPA! You must report all gambling winnings as [...]
Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is [...]
My Retiree and Senior client base continues to grow, and with that comes special tax planning needs. There is so much information out there on taxes and from so [...]
Note from Chris Whalen, CPA - Even if you cannot pay your tax, FILE YOUR TAXES ON TIME. You can always apply for an installment plan. Many taxpayers don't [...]
On Nov. 11, 2003, President Bush signed into law the Military Family Tax Relief Act of 2003. Among its provisions are these tax breaks related to military personnel: Death [...]
RED BANK, NJ — Hurricane Preparedness Week is only one 7 days in May, May 7 to 13, but this is far too short in my opinion. Every week should [...]
It’s April 1st (my birthday, really) Do You Know Where Your Income Taxes Are? Only 14 days until April 15th!! Call Me So I Can Get Your Extensions Done. Click [...]
I want to remind you about some basic tips to keep in mind about your refunds. During the early parts of the tax season, early filers are anxious to get [...]
If you have a history of tax filing procrastination, call me immediately for CPA Therapy Sessions. The IRS got more than 131 million tax returns last month. Was yours [...]
If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who [...]
Overview Beginning in Tax Year 2015—following the lead of the IRS—New York began to capture taxpayers’ driver license or state-issued ID (non-driver ID) information for their electronically-filed personal income tax [...]
2017 Standard Mileage Rates for Business, Medical and Moving Announced WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs [...]
More and more I am hearing from clients whose former employers are failing to send them W2s. You don’t have to feel helpless in this situation. There are specific steps [...]
Before the memo begins, please read this important message. President Elect Trump is planning a major Tax Overhaul in 2017! Now is the time for YOU to plan, NOT after the [...]
Chris Whalen, CPA is issuing a warning to all taxpayers of fake IRS tax bills they may receive related to the Affordable Care Act. We have received numerous reports of [...]
Do you have any money or assets outside the U.S.? Seems like a pretty straightforward question, doesn’t it? Well, a lot of people are surprised to learn that they do [...]
I am encouraging my clients to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld [...]
Please read and share this informative memo. Click Here To Read The Memo Please reach out to me without hesitation with any tax, business or accounting question, and to schedule [...]
You usually will have taxes withheld from your pay if you are an employee. However, if you don’t have taxes withheld, or you don’t have enough tax withheld, you may [...]
Here are the top 21 questions I get regarding IRS Refunds. Q1: How quickly will I get my refund? The IRS issues most refunds in less than 21 calendar [...]
Use the right form That would be the Form 1040X, Amended U.S. Individual Income Tax Return. It must be paper-filed, and the box at the top showing which year is [...]